In the fall of 2009, our lawmakers will let loose another 300 million dollars from the Economic Stimulus Plan to put into action the “Cash for Appliances” program. This is, at the moment, its tentative name. It has also been referred to as “Cash for Refrigerators”. As does it’s sister program, Cash for Clunkers, this one has two purposes. It seeks to boost the appliance industry such as GE, Electrolux and Whirlpool, as well as others, and attempt to help the environment by getting rid of older more inefficient appliances. Some of the older appliances take up to five times as much money as the newer appliance to operate yearly.
The Federal Government will decide how much money each state will get. The program is slated to begin in November and hopes to spur consumers into replacing their old appliances with new Energy Star rated appliances. Before you go shopping, here are some steps to understanding how the Cash for Appliances program works.
First, ask what kind of rebate you are being offered on the appliance you are considering. This program gives $50 to $200 rebates for switching to a new more energy efficient appliance. The state governments will decide on the payout amounts.
You will not be required to trade in your old appliance to get the rebate.
You will be required to purchase an Energy Star appliance. Only those qualify for the rebate.
Understand that the rebate on your purchase is money set aside by the Federal Government as part of the American Recovery and Reinvestment Act of 2009.
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